Jim Cramer
- CNBC's Jim Cramer reviewed several companies that surpassed $100 billion in market cap this year, noting that the names capture the "zeitgeist of the moment" on the market.
- Palantir, AppLovin, Spotify and Arista Networks were among the stocks he mentioned.
CNBC's Jim Cramer on Monday reviewed several companies that surpassed $100 billion in market cap this year, noting that the names capture the "zeitgeist of the moment" on the market.
"When you get this much money coming in, you can see how all these companies can reach $100 billion, creating a huge amount of wealth, at least on paper," he said. "One more reason why it wouldn't be so bad if some of the winning investors in this market took something delicious off the table."
Cramer first mentioned AppLovin, an enterprise software company that is currently up nearly 760% year-to-date. Some investors think AppLovin could become an extremely successful e-commerce outfit as it does well advertising in the video game space, he said. Palantir has also seen enormous gains, currently up 322% year-to-date. According to Cramer, Wall Street loves this stock because it makes high-profile government deals, and some think it could reinvent the U.S. defense budget.
The market has also been favorable towards Spotify, which has rallied more than 156% year to date, because Wall Street appreciates "sticky" subscription models in the same vein as other top performers like Netflix, Costco and Amazon, Cramer said. Stocks related to the data center — one of the hottest market sectors — have also run up big, including Arista Networks and Eaton.
Cramer also reviewed several other companies that have seen their valuation swell, including Arm, Progressive, Marsh & McLennan, Apollo Global, KKR, Chubb, Fiserv, Automatic Data Processing, Boston Scientific, Citigroup, Palo Alto Networks, Micron and Analog Devices.
"I know we're experiencing a heightened market, with expectations really running so hot that you can't believe that a presidential rally, or, let's say, an end-of-the-year rally, and a stock shortage rally are all in play at once," he said. "Many of these stocks got clocked today as part of a sell-off that seemed to infect the year's best performers."
Money Report
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